Page 10 - Vedanta Resources
Vedanta Resources raises $1.8 bn to refinance two of its bond issues
London-listed Vedanta Resources said it had raised $1.8 billion, via a combination of bonds and term loans, to refinance two of its bond issues, earlier scheduled to mature in 2019 and 2021, respectively.With this, the company is expected to have no significant bank loan repayments due over the next 18 months and will extend Vedanta's average debt maturity by 1.5 years, while also lowering the average cost of borrowing.This transaction is said to have led to only a small saving but with extended maturity and lower interest cost, the main purpose.Of the amount in question, $1 billion was raised by Vedanta Resources from the bond market. This is set to mature in 2024 and carries an interest rate of 6.125 percent, the company stated. In January, the Anil Agarwal-led company had raised another $1 bn from the bond market for a tenure of five years, at an interest rate of 6.375 per cent, to refinance its near-term debt (2018 and 2019 bonds). Vedanta said it would use the net proceeds to ...
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Vedanta's chairman not eyeing Anglo American assets in South Africa
Agarwal also said he would be happy to help Anglo American move into India
 "Vedanta's chairman not eyeing Anglo American assets in South Africa")
Vedanta Resources announces pricing of $1-bn bond offering
Company to use part of the proceeds to repay existing indebtedness
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Vedanta's $1 bn-bond issuance is a sound refinancing strategy: Moody's
Vedanta has reduced debt maturing in FY19 by 31%
 "Vedanta's $1 bn-bond issuance is a sound refinancing strategy: Moody's")
James Spigelman to represent Vedanta in arbitration
Both Cairn India and Vedanta are contesting the tax demand
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Vedanta Resources aims to close merger with Cairn India in early 2017
Vedanta has been hit by a collapse in commodity prices. It is also facing legal action and activist protests over its Zambia operations
Vedanta Resources Q1 profit before taxes falls 18% to $527 million
Its revenue fell 21% to $2.34 billion in April-June quarter of the current financial year
Vedanta to produce 1.5 mn tonnne aluminium in FY17
Company says ramping up of aluminium production looks sustainable despite firm's dependence on imported alumina
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Vedanta kicks off ramp up of second smelter at Jharsuguda
The mining major aims to commission two potlines of the smelter to reach a capacity of 0.6 mtpa by the end of this financial year.
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